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Mass. AG Questions if Mass. Auto Marketis is Ready for Competition
One day after Massachusetts Insurance Commissioner Nonnie Burnes announced she would implement competitive rating for private pasenger auto insurance next year, the state attorney general urged caution. Attorney General Martha Coakley said she will await the details of the Burnes plan but has "concerns about whether the market in Massachusetts is prepared for rates to be set by competitive pricing at this time." The Democrat vowed that her office would be active in the regulatory process to "ensure that the regulations protect consumers" by advocating for consumers on an "insurer-by-insurer basis" as carriers submit their proposed rates to the state for approval. Under the current system, the attorney general has advocated for a lower standard rate for all carriers on an industry-wide basis.
Progressive’s Direct Business Lowers Auto Insurance Rates in ...
The Direct Business of the Progressive Group of Insurance Companies, which sells insurance by phone at 1-800-PROGRESSIVE (1-800-776-4737) and online at progressive.com, announced today that it is lowering auto insurance premiums in Colorado by an average of 5.2 percent for new and renewing customers effective July 11 and August 20, 2007, respectively. “The combination of the shift from a no-fault to a tort-based system and lower claims costs in Colorado is really paying off for drivers here and we couldn't be happier," said Michele Strub-Heer, senior product manager, Progressive's Direct Business. “We're thrilled to pass these savings on to our customers." This is the seventh time Progressive's Direct Business has lowered its rates since July 2003 when the state's auto insurance reforms took effect, for a cumulative reduction of nearly 37 percent.
Fewer Miles Mean More Savings for Car Insurance Holders - VIDEO STORY
LOS ANGELES - July 19, 2007: Drivers who use OnStar vehicle communication technology can calculate their miles and receive special discounts on their car insurance, General Motors reports. Most insurance companies base coverage rates on the average miles a driver travels each year. In the U.S., the average vehicle treks between 15,000 and 20,000 miles a year. This means drivers who travel less generally have to pay more per mile for insurance. However, GM reports a new partnership between GMAC Auto Insurance and OnStar will offer a low mileage discount for drivers using the vehicle communication technology. By determining the exact number of miles traveled via OnStar reports, GMAC Insurance will offer reduced rates to eligible drivers.
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Low Credit Score May Hurt Car Insurance Rates, But Consumers Have ...
A low credit score can affect a consumer's ability to get a home or car loan but also impacts other less-obvious areas of life, such as insurance rates. The good news is that there are ways for consumers to improve credit, clean up credit ratings and find willing lenders. MortgageCreditProblems.com is a top mortgage site offering resources for borrowers looking to make critical financial decisions. (PRWEB) July 6, 2007 -- MortgageCreditProblems.com, a primary source of mortgage lending information and bad credit mortgage loans for people with poor credit, can help people who are hurt by a bad credit rating (http://www.mortgagecreditproblems.com). Consumers are hurt by low credit scores in many ways--including, surprisingly, the cost of auto insurance -- so it's important to have the best credit rating possible.
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